Lithium-ion Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global Lithium-ion battery market reached a value of US$ 28.5 Billion in 2018. The market is further projected to reach a value of US$ 53.8 Billion by 2024, exhibiting a CAGR of 11% during 2019-2024. Lithium-ion battery, also known as Li-ion Battery (LIB), is a rechargeable battery that uses intercalated lithium in the form of an electrode to produce a charge. A standard Lithium-ion Battery comprises of three components - anode, cathode and electrolyte. The lithium ions flow between the anode and the cathode to cause a discharge. Currently, there are several versions of the Li-ion Battery available which include lithium cobalt, lithium manganese oxide, lithium iron phosphate, lithium nickel manganese cobalt oxide, lithium nickel coal aluminium oxide and lithium titanate. All of these operate by releasing lithium ion from different types of compounds. The Li-ion batteries are generally used in a plethora of devices such as mobile phones, laptop computers, cameras, personal digital assistants and other portable consumer electronics.
The Li-ion technology currently holds several advantages over its predecessor Nickel Cadmium. Li-ion batteries provide a significantly high energy density which can be used for powering electronic devices over a longer duration. This is one of the major factors which has been proliferating the growth of the market. Additionally, their low rate of self-discharge and low maintenance effort offer Li-ion batteries an edge over the other substitutes available in the market. Also, with the development of new variants, the Lithium-ion Battery technology can be enhanced to handle different types of market needs ranging from powering smartphones to electric or plug-in hybrid vehicles. This has, in turn, contributed towards an augmented demand for lithium ion batteries across the globe. Apart from this, there is a persistent demand for batteries which are energy-efficient, low cost and environment friendly in nature. Moreover, the market growth is further catalysed by the strict regulations being implemented by several governments across the globe to reduce pollution.
On the basis of product type, Lithium Cobalt Oxide currently represents the largest product type. Other segments covered in the report include Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt, Lithium Manganese Oxide and Others (Lithium Nickel Cobalt Aluminium Oxide and Lithium Titanate Oxide).
Based on the power capacity, the market has been segmented into 0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh and more than 60000mAh. Currently, 0 to 3000mAh represents the largest category.
On the basis of application, the market has been segmented into consumer electronics, electric vehicles, energy storage and others. Consumer electronics currently represent the largest segment.
Region-wise, the market has been segmented into Asia-Pacific, North America, Europe, Middle East and Africa and Latin America.
The competitive landscape of the market has also been examined with some of the key players being A123 Systems, Automotive Energy Supply Corp., LG Chem, Panasonic, SAMSUNG SDI, Toshiba, Amperex Technology (ATL), BAK Group, Blue Energy, BYD, CBAK Battery, Tianjin Lishen Battery, Valence Technology, SK innovation, and Hitachi Ltd.
This report provides a deep insight into the global Lithium-ion battery market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Lithium-ion battery industry in any manner.
Key Questions Answered in This Report:
How has the global Lithium-ion battery market performed so far and how will it perform in the coming years?
What are the key regions in the global Lithium-ion battery market?
What are the key product types in the global Lithium-ion battery market?
What is the breakup of the global Lithium-ion battery market on the basis of power capacity?
What is the breakup of the global Lithium-ion battery market on the basis of application?
What are the price trends of Lithium-ion batteries?
What are the various stages in the value chain of the global Lithium-ion battery industry?
How are Li-ion batteries manufactured?
What are the key driving factors and challenges in the global Lithium-ion battery market?
What is the structure of the global Lithium-ion battery market and who are the key players?
What is the degree of competition in the global Lithium-ion battery market?
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